§ 47. Mr. McGovernasked the Chancellor of the Exchequer the total expenditure in connection with rearmament during the last four years; how this compares with the total cost of the War from 1914 to 1918; and what percentage of this cost in each case was met out of borrowed moneys and taxation, respectively?
§ The Chancellor of the Exchequer (Sir John Simon)Expenditure on rearmament (including Civil Defence), in the years 1935 to 1938 inclusive, was £988,588,932, of which £192,917,000, or 19.5 per cent., was met out of issues under the Defence Loans Acts. No official estimate of the cost of the War of 1914-18 has ever been made, and I am not, therefore, in a position to allocate that cost between borrowing and taxation.
§ Mr. McGovernDoes the right hon. Gentleman say that there is no possibility of making an estimate of the cost of the War of 1914–18? Do we understand that there is no source at all from which he can get that information?
§ Sir J. SimonI did make inquiries into the matter, and I understand the hon. Gentleman's desire to have the figures, but he will see that the information is 206 very difficult to get at. It would be necessary to exclude the peace-time functions of the Government and to estimate the net cost of our loans to other Governments. Mere figures of Exchequer issues also ignore, not only the subsequent charges for war pensions and similar matters, but also the receipts from the sale of war stores. It is, therefore, an extremely complex subject.
§ Mr. McGovernWould there be any possibility of making any very near estimate if I put down another question?
§ Mr. StephenCould the right hon. Gentleman give an estimate of the amount of money that was spent on the Army, Navy and Air Force during those years?
§ Sir J. SimonIf the hon. Member will put down a question, I will see what I can do.